Northrop Grumman Co. (NOC) Position Trimmed by Crossmark Global Holdings Inc.

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Crossmark Global Holdings Inc. decreased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 3.7% in the 4th quarter, Holdings Channel reports. The firm owned 4,501 shares of the aerospace company’s stock after selling 171 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Northrop Grumman were worth $1,102,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wedbush Securities Inc. increased its position in Northrop Grumman by 15.6% during the fourth quarter. Wedbush Securities Inc. now owns 1,612 shares of the aerospace company’s stock worth $395,000 after buying an additional 217 shares during the period. Eads & Heald Wealth Management increased its position in Northrop Grumman by 4.7% during the fourth quarter. Eads & Heald Wealth Management now owns 4,109 shares of the aerospace company’s stock worth $1,006,000 after buying an additional 186 shares during the period. Wetherby Asset Management Inc. increased its position in Northrop Grumman by 2.3% during the fourth quarter. Wetherby Asset Management Inc. now owns 3,289 shares of the aerospace company’s stock worth $806,000 after buying an additional 74 shares during the period. Crossvault Capital Management LLC acquired a new position in Northrop Grumman during the fourth quarter worth approximately $218,000. Finally, MAI Capital Management increased its position in Northrop Grumman by 3.1% during the fourth quarter. MAI Capital Management now owns 10,550 shares of the aerospace company’s stock worth $2,584,000 after buying an additional 315 shares during the period. Hedge funds and other institutional investors own 82.87% of the company’s stock.

NYSE:NOC opened at $280.62 on Monday. The company has a market capitalization of $47.63 billion, a PE ratio of 13.16, a P/E/G ratio of 1.24 and a beta of 0.89. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 1.70. Northrop Grumman Co. has a 12-month low of $223.63 and a 12-month high of $360.88.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 31st. The aerospace company reported $4.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.45 by $0.48. The business had revenue of $8.16 billion for the quarter, compared to analyst estimates of $8.11 billion. Northrop Grumman had a return on equity of 41.24% and a net margin of 9.73%. During the same quarter in the previous year, the company posted $2.82 earnings per share. Equities analysts predict that Northrop Grumman Co. will post 18.98 earnings per share for the current year.

Northrop Grumman announced that its board has authorized a share buyback plan on Tuesday, December 4th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

NOC has been the topic of several research analyst reports. Wells Fargo & Co cut their price target on Northrop Grumman from $360.00 to $340.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Stifel Nicolaus set a $280.00 price target on Northrop Grumman and gave the stock a “hold” rating in a research report on Thursday, October 25th. ValuEngine lowered Northrop Grumman from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Citigroup dropped their target price on Northrop Grumman from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. Finally, Zacks Investment Research lowered Northrop Grumman from a “strong-buy” rating to a “hold” rating in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $336.94.

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About Northrop Grumman

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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